Monday, November 30, 2020
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Málaga’s Macro-Tower Project Sparks Interest From Large Investors

Málaga City Council is holding negotiations with various investment funds regarding the sale of Repsol's former land, where four residential skyscrapers and a new financial 'City' are going to be built.

Recreation of the project located on the site of Repsol’s former deposits in Málaga.

Several investment funds have expressed their interest in the so-called former Repsol plots in Málaga. The land spans almost 180,000 square metres in total and is located in the heart of the city. Some of the suitors have even submitted bids to Málaga City Council’s Urban Planning Department to make clear their formal intention to take over these plots.

Specifically, the land spans a surface area of 177,548 square metres in total and is bordered to the south by Avenida de Europa, to the east by Avenida de Juan XXIII, to the west by Calle Sillita de la Reina and to the north by Calle Bodeguero, next to the Huelin neighbourhood. In terms of ownership, more than 56% of the site belongs to Málaga City Council, with the remainder belonging to Árqura Homes, a property developer created by the Company for the Management of Assets Proceeding from the Bank Restructuring (Sareb) to divest the land awarded through the promotion.

Read the full article in Spanish.

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